Please find the attached NOTICE of EGM
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Steelman Telecom Ltd has called an EGM on Thursday, 19th March 2026 at 12:00 noon in Kolkata to seek shareholder approval on two key items. First, an Ordinary Resolution to increase authorised share capital from Rs. 11 crore (1.10 crore equity shares of Rs. 10) to Rs. 12.5 crore (1.25 crore equity shares of Rs. 10), creating an additional 15 lakh shares, along with a corresponding amendment to Clause V of the Memorandum of Association. Second, a Special Resolution to approve material related party transactions for FY 2025-26 and FY 2026-27 with E C Wheel India Pvt Ltd (subsidiary, 50.08% owned, EV business) up to Rs. 20 crore loan and Rs. 20 crore other transactions, and with EDP Software Ltd (significantly influenced enterprise, manpower services) up to Rs. 10 crore loan and Rs. 18 crore other transactions, both at 9% p.a. unsecured interest. Past 3-year transaction values were Rs. 49.77 crore and Rs. 9.69 crore respectively. E-voting via NSDL will run from 16th-18th March 2026, with cut-off date of 12th March 2026.
The authorised capital hike gives the company room to raise fresh equity in future, which could dilute existing shareholders if new shares are eventually issued. The RPT approvals involve transactions with entities linked to directors Mahendra Bindal and Mayank Bindal, so investors should review the arm's-length justification carefully — E C Wheel India transactions have been substantial historically, representing 10% of consolidated turnover.